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Real Estate Alert: New Taxes on High Value NYS Transactions Take Effect July 1, 2019

As part of the FY2020 budget, New York State will seek new revenue from real estate transactions.   The final legislation is expected to yield hundreds of millions of dollars for state coffers and is intended to secure $5B in bonds for the MTA. It will: Increase transfer taxes by 60%, from .4% to .65% Commercial properties sold for $2M […]

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Cathleen Bahan Consulting

Multifamily Property Transactions: A View from the Closing Table

On September 1, 2018, Anthony T. Simari, Esq., joined Holm & O’Hara LLP as a partner in our real estate group focusing on multi-family properties.  Anthony is a seasoned professional; in each of the last five years, he has closed transactions for properties collectively valued at more than $200,000,000.  After his first six months with […]

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Cathleen Bahan Consulting

Naughty and Nice: Tips for Post-Holiday Estate Planning

The holidays are over.  The champagne flutes and decorations are stowed away, and the prospect of spending hours feasting and reminiscing with your nearest and dearest at is again at a safe distance in the future.   The holiday season offers an opportunity to reflect on the people in your life and how you may […]

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Cathleen Bahan Consulting

Environmental Site Assessments: Essentials for Real Estate Investors

Buying or selling a commercial or investment property is a process, sometimes an involved one.  One of the more complex—and least understood—aspects of this process is the Phase I Environmental Site Assessment (ESA).  We asked environmental attorney James J. Periconi to explain some of the essentials of Phase I ESAs and why it is often […]

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Cathleen Bahan Consulting

Fall Update: What’s Happening in Real Estate

For many people, back to school time is also back to business time.  Certain industries and markets – like real estate – which tend to quiet down in August, start to see new life in September.  Holm & O’Hara LLP’s Fall Real Estate Update covers four topics of interest to those who are likely to buy or […]

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Cathleen Bahan Consulting

Estate Planning: The Fun and the Factual ​

Very few people enjoy estate planning. After all, who wants to think about why you need an estate plan in the first place? But as with many human endeavors, estate planning does have a lighter side. Here are five fun facts from Holm & O’Hara LLP lead Trusts & Estates Partner Chaya Biskin-Sitko, who compiled them […]

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Cathleen Bahan Consulting

Altman Ruling Offers Clarity – and Opportunity – for NYC Real Estate Investors

On April 26, 2018, New York State’s highest court – the Court of Appeals – unanimously ruled in a case that had created significant uncertainty for owners and tenants of many multifamily buildings in New York City since 2014. In Altman v. 285 West Fourth LLC, tenant Richard Altman asserted that his apartment had been […]

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Cathleen Bahan Consulting

NNN Properties:  An Opportunity for Real Estate Investors

Like everything else in the current global economy, investing in real estate is not quite as straightforward as it used to be.  Urban multifamily buildings, once almost exclusively the domain of smaller, family-owned concerns, are increasingly sought by larger – even corporate – investors.  The stresses of dealing with unpredictable operating expenses and even less […]

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Cathleen Bahan Consulting

Now is the Time to Distribute Shares in Your Family Business

A proposed new IRS regulation could eliminate the tax advantages of transferring interest in family-owned businesses to family members. Under current rules, interest in family business may be transferred to family members at a discount.  The specific amount of the discount varies depending upon a number of factors including restrictions in the partnership agreement and […]

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Cathleen Bahan Consulting

Planning for a Rainy Day – Using a Life Insurance Trust To Care For Your Loved Ones and Provide Liquidity For An Estate

Introduction Many financial planners suggest people create a “rainy day” fund to handle unexpected cash needs that come up, like a car repair or an unexpected increase in a child’s after-school activity. But many people do not realize that having this type of liquid fund is an important part of estate planning, too. As people […]

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Cathleen Bahan Consulting

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